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Determine the unrealized gain-loss on December

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Question - On January 1, 2021, Jeremiah Company purchased trading equity investments which are irrevocably designated at FVPL:

Security

Purchase price

Transaction costs

Fair value, Dec. 31, 2021

A

P1,000,000

P100,000

P1,500,000

B

2,000,000

200,000

2,400,000

C

4,000,000

400,000

4,700,000

On July 5, 2022, the entity sold Security C amounting to P5,200,000.

Determine the unrealized gain/-loss on December 31, 2021?

How much is the total amount credited to retained earnings on July 5, 2022?

Reference no: EM133134450

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